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    IDFC FIRST Bank enables Direct Tax payments through UPI, cards, net banking and branches
    Sensex slumps 1,248 pts as IRDAI proposal hits financial shares; rising crude, US yields weigh
    Bajaj Finance Personal Loan Offers Rs. 40,000 to Rs. 55 Lakh with Tenures up to 108 Months
    MCA issues advisory - cautions public against high-return promises by non-compliant Nidhi Companies
    Banks likely to deploy excess liquidity over next few months amid strong credit demand: RBI Deputy Guv
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    The Indian Economy in an Ever More Volatile and Complex World - Special Address by Dr. Poonam Gupta, Deputy Governor, Reserve Bank of India at the 13t...
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September 24, 2026
Show AI Summary
Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
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Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
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Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
Show AI Summary
Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
Show AI Summary
Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
Show AI Summary
BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.
September 24, 2026
Show AI Summary
Wildlife trafficking enforcement applies protected-species safeguards to seized Tokay Geckos and enables further statutory action against suspected illegal trade.
Wildlife-trafficking enforcement led to interception of two persons and seizure of 86 live Tokay Geckos under the Wildlife (Protection) Act, 1972. Tokay Geckos receive Schedule I protection under that legislation and are listed in Appendix II of CITES, regulating international trade. The persons and recovered geckos were transferred to the Mariani Range Forest Office for further action.
September 24, 2026
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Restricted firecracker imports concealed through misdeclaration trigger seizure and criminal investigation under customs enforcement law.
Concealment of restricted firecrackers within an import container declared as bottles and wallpaper resulted in customs seizure under the Customs Act, 1962. Firecracker imports are restricted under the Foreign Trade Policy and require valid Directorate General of Foreign Trade authorisation and a Petroleum and Explosives Safety Organisation licence under the Explosives Rules, 2008. Investigation into attempted clandestine clearance led to the arrest under the Customs Act of a key syndicate member alleged to have orchestrated the import.
September 24, 2026
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Merger-control approval permits FIHM's phased acquisition of IIFL Capital Services equity through subscription, open offer and promoter purchase.
Merger-control approval permits FIHM to acquire certain additional equity share capital of IIFL Capital Services through a preferential issue on a private-placement basis and through shares tendered in a mandatory open offer. FIHM may also buy shares from the target's promoters if its aggregate shareholding with HWIC remains below the Target Shareholding after these steps.
September 24, 2026
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Full ownership acquisition in beauty and personal care receives competition approval for skin care and hair care operations.
Competition approval covers L'Ore al India Private Limited's acquisition of the entire shareholding in Onesto Labs Private Limited. The proposed combination concerns India's beauty and personal care sector and places the Target under the Acquirer's full ownership. Both entities operate in beauty and personal care products, including skin care and hair care.
September 23, 2026
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Advance disbursement of central government pay addresses anticipated banking disruption, with subsequent adjustment against the following month's entitlements.
Advance disbursement of September 2026 salary, wages and pensions is authorised on 25 September for central government employees, industrial employees and pensioners because of the proposed bank strike. Payments constitute advance payments and must be adjusted after full monthly entitlements are determined, with any adjustment made from October salary or wages. End-of-month banking transactions should, where feasible, be processed in advance.

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Government funding vote fails again in Senate as hopes fade for quick end to shutdown

October 4, 2025

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Washington, Oct 3 (AP) Hopes for a quick end to the government shutdown faded Friday as Democrats refused to budge in a Senate vote and President Donald Trump readied plans to unleash layoffs and cuts across the federal government.

On the third day of the shutdown, a Senate vote to advance a Republican bill that would reopen the government fell well short of the 60 needed to end a filibuster and pass the legislation.

Senators were expected to depart for the weekend, and there have been few signs of any real progress towards ending the congressional standoff.

Democrats are demanding that Congress extend healthcare benefits, while Republicans are trying to wear them down with day after day of voting on the House-passed bill that would reopen the government temporarily, mostly at current spending levels.

“I don't know how many times you're going to give them a chance to vote no,” Senate Majority Leader John Thune said at a news conference Friday. He added that he would give Democratic senators the weekend to think it over.

Although Republicans control the White House and both chambers of Congress, the Senate's filibuster rules make it necessary for the government funding legislation to gain support from at least 60 of the 100 senators.

That's given Democrats a rare opportunity to use their 47 Senate seats to hold out in exchange for policy concessions. The party has chosen to rally on the issue of health care, believing it could be key to their path back to power in Washington.

Their primary demand is that Congress extend tax credits that were boosted during the COVID-19 pandemic for health care plans offered under the Affordable Care Act marketplace.

Standing on the steps of the US Capitol on Thursday, House Democratic leader Hakeem Jeffries said, “Understand this, over the last few days and over the next few days, what you're going to see is more than 20 million Americans experience dramatically increased health care premiums, co-pays and deductibles because of the Republican unwillingness to extend the Affordable Care Act tax credits.” The shutdown gamble Democrats are running the high-risk strategy of effectively voting for a government shutdown to make their stand. Trump has vowed to make it as painful as possible for them.

The Republican president has called the government funding lapse an “unprecedented opportunity” to make vast cuts to federal agencies and potentially lay off federal workers, rather than the typical practice of furloughing them. White House budget director Russ Vought has already announced that he is withholding billions of dollars for infrastructure projects in states with Democratic senators.

On Friday morning, Vought said he would withhold another USD 2.1 billion for Chicago infrastructure projects to extend its train system to the city's South Side.

Jeffries has displayed no signs of budging under those threats.

“The cruelty that they might unleash on everyday Americans using the pretense of a shutdown is only going to backfire against them,” he said during an interview with The Associated Press and other outlets at the Capitol.

Still, the shutdown, no matter how long it lasts, could have far-reaching effects on the economy. Roughly 750,000 federal employees could be furloughed, according to the nonpartisan Congressional Budget Office, and they could lose out on USD 400 million in daily wages.

That loss in wages until after the government reopens could drive down wider demand for goods and services.

“All around the country right now, real pain is being endured by real people because the Democrats have decided to play politics,” said House Speaker Mike Johnson on Friday.

The White House also began its press briefing on Friday by rattling off the various consequences of the shutdown that were already hitting Americans. Press secretary Karoline Leavitt discussed a report that said military families are already seeking food aid as troops go without a paycheck.

“This madness must end,” she said.

Who will take the blame? The American public usually spreads the blame around to both major political parties when it comes to a government shutdown. While Trump took a significant portion of the blame during the last partial government shutdown in 2018 as he demanded funding for a US-Mexico border wall, this standoff could end differently because now it is Democrats making the policy demands.

Still, lawmakers were relentlessly trying to make their case to the American public with a constant beat of news conferences, social media videos and livestreams. Congressional leaders have been especially active.

Both sides expressed confidence that the other would ultimately be found at fault. And in the House, party leaders seemed to be moving farther apart rather than closer to making a deal to end the shutdown.

Jeffries on Thursday called for a permanent extension to the ACA tax credits. Meanwhile, Johnson and Thune told reporters that they would not negotiate on the tax credits until the government is reopened.

Talks in the Senate A bipartisan group of senators, including moderate Democrats who have said they want to find a quick resolution, has been discussing possible health care compromises through one-on-one talks over the last two days.

One option floated by South Dakota Sen. Mike Rounds, a Republican, would extend the higher subsidies for one year and then phase them out to pre-pandemic levels.

Thune acknowledged those conversations on Friday, telling reporters, “Honestly, I think the more productive conversations are happening outside of the leader office at the moment.” Still, it was unclear if they would be able to find a solution that could appease the White House and Republican leaders, who want to see cuts to the subsidies, which are part of the Affordable Care Act, former President Barack Obama's signature health care law. Thune also said he wasn't sure if a compromise would have the votes to pass.

House Speaker Mike Johnson, R-La., said Friday that “more reforms are coming” to the ACA subsidies, which he said “are not working.” Sen. Amy Klobuchar, in a floor speech, called for Republicans to work with her and fellow Democrats to find “common ground” on the ACA subsidies, saying their expiration would impact plenty of people in states with GOP senators — especially in rural areas where farmers, ranchers and small business owners purchase their own health insurance.

She said that it was difficult to trust that Republicans could deliver on anything if Trump is not on board. “We know that even when they float ideas — which we surely do appreciate — in the end the president appears to make the call,” she said. (AP) GRS GRS

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